Captain Action was an action figure from the 60s that had a short lived comic book published by DC; have a quick look at the Wikipedia page here for more info. By the way, the second issue featured a cover that I’ve included in the pre-Crisis section of the COIE #7 homages page which you can find here.
The reason for me telling you this? It’s because of another crazy ad I found in some 60s Justice League of America issues:

A quick four panel story and some information on the toys:

Captain Action comes with “crime fighting accessories” . . . but we’re not going to tell you what, oh no . . . no, you have to buy the toy – sorry, action figure, to find out.

Action Boy? Oh he has a helmet, knife, ray gun and panther.
A freaking panther?! What the hell? I know this was still the era of the teen sidekick but you let this kid walk around with a panther?!

Dr Evil – he’s evil! You can tell by his deeds . . . which are evil! And his outfit . . . is evil!!
And the things he comes with . . . “evil, evil things!”
He’s evil, people! EVIL!
Man . . . the 60s, eh?